On November 28, 2018 in Hanoi, the State Bank of Vietnam (SBV) organized VIET SWIFT 2018 Annual Meeting under the chairmanship of Mr. Nguyen Van Anh, Director General of the SBV’s Banking Operations Center cum Chairman of VIETSWIFT.
Also attending the meeting were Ms. Le Dieu Hong, representative from SWIFT in Vietnam, Mr. Hyundong Lee, Specialist & Head of SWIFT solutions design team, and representatives from the SBV entities and several commercial banks.
The Meeting focused on reviewing the membership status and payment activities through SWIFT in 2018; the substances implemented by the Chairman of VIET SWIFT over the past time, and orientations toward 2019.
Speaking at the meeting, Mr. Nguyen Van Anh, Chairman of VIETSWIFT, emphasized that a rapid change in technology and high requirements for fintech applications in the digital era have been affecting remarkably on the operations of credit institutions, especially in the field of payments and international settlements. However, the assurance of security and safety and anti-cybercrime are important factors, affecting strongly the reputation and operational results of the credit institutions. Therefore, the Chairman of VIETSWIFT required the credit institutions to enhance their compliance with the requirements for international payment operations, such as the Customer Security Program (CSP), meeting the requirements of SWIFT Global Payments Innovation (SWIFT gpi), ISO 2022, KYC-SA, etc.
Mr. Nguyen Van Anh, Director General of the SBV’s Banking Operations Center cum Chairman of VIETSWIFT
He also stated that the SBV would strengthen the compliance monitoring regarding the CSP and professional reports in order to ensure the efficient and safe operations of the international payment system.
The Meeting also agreed on a plan for implementing the activities and the orientations for SWIFT development in 2019, which includes a booth of Vietnam’s credit institution system at the annual conference on banking and finance organized by SWIFT in 2019 in London, the United Kingdom.
Chairman of VIETSWIFT Nguyen Van Anh highly appreciated and thanked SWIFT for its cooperation and support for the SBV and its members in Vietnam to get access to and learn the experience in international payment operations, improving the operational efficiency of the SWIFT system in Vietnam.
Mr. Hyundong Lee, SWIFT specialist exchanges his views at the Meeting
At the meeting, Mr. Hyundong Lee, SWIFT specialist, made a presentation on several products of SWIFT, the application of ISO 20022, SWIFT latest innovatives about the readiness of banks when enterprises get direct connection with SWIFT,… Moreover, in order to renovate the operational mode of VIETSWIFT, a representative from BIDV, which has been implementing SWIFTgpi, was invited to share the BIDV’s experience in the implementation of SWIFT gpi. In Vietnam, there have been three banks implementing SWIFTgpi, and two other banks registered for implementation.
Le Hang